Scotia Capital Inc. Acquires 39,302 Shares of Visa Inc (NYSE:V)

Scotia Capital Inc. raised its stake in shares of Visa Inc (NYSE:V) by 7.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 601,464 shares of the credit-card processor’s stock after purchasing an additional 39,302 shares during the period. Visa accounts for approximately 1.3% of Scotia Capital Inc.’s investment portfolio, making the stock its 20th biggest position. Scotia Capital Inc.’s holdings in Visa were worth $104,400,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Asset Dedication LLC boosted its position in Visa by 4.2% during the second quarter. Asset Dedication LLC now owns 16,109 shares of the credit-card processor’s stock valued at $2,799,000 after acquiring an additional 647 shares during the last quarter. Laurel Wealth Advisors Inc. raised its position in shares of Visa by 12.0% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 7,181 shares of the credit-card processor’s stock worth $1,122,000 after acquiring an additional 767 shares in the last quarter. Doliver Advisors LP lifted its stake in shares of Visa by 16.8% in the 2nd quarter. Doliver Advisors LP now owns 14,848 shares of the credit-card processor’s stock valued at $2,577,000 after purchasing an additional 2,134 shares during the period. Investec Asset Management LTD lifted its stake in shares of Visa by 6.6% in the 2nd quarter. Investec Asset Management LTD now owns 4,900,087 shares of the credit-card processor’s stock valued at $850,410,000 after purchasing an additional 305,148 shares during the period. Finally, Commerce Bank boosted its position in shares of Visa by 1.9% during the 2nd quarter. Commerce Bank now owns 613,768 shares of the credit-card processor’s stock valued at $106,519,000 after purchasing an additional 11,541 shares in the last quarter. 81.20% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have weighed in on the company. Wedbush reiterated an “outperform” rating on shares of Visa in a report on Wednesday, July 3rd. Jefferies Financial Group raised their price target on shares of Visa from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. SunTrust Banks lifted their price target on shares of Visa to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Barclays raised their price target on shares of Visa from $181.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, Credit Suisse Group lifted their price target on Visa from $200.00 to $203.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Visa currently has a consensus rating of “Buy” and a consensus price target of $196.57.

In related news, Director Lloyd Carney sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $182.73, for a total value of $639,555.00. Following the transaction, the director now owns 3,452 shares in the company, valued at $630,783.96. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Denise M. Morrison acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average price of $171.13 per share, for a total transaction of $171,130.00. Following the purchase, the director now owns 3,223 shares of the company’s stock, valued at approximately $551,551.99. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Shares of Visa stock traded down $1.28 during mid-day trading on Wednesday, hitting $175.07. 988,560 shares of the stock were exchanged, compared to its average volume of 5,549,568. Visa Inc has a 12 month low of $121.60 and a 12 month high of $187.05. The company has a 50-day simple moving average of $179.35 and a 200 day simple moving average of $166.94. The company has a market capitalization of $360.18 billion, a P/E ratio of 37.95, a P/E/G ratio of 2.04 and a beta of 0.97. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.69 and a current ratio of 1.69.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.04. The company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. Visa had a return on equity of 41.04% and a net margin of 53.43%. Visa’s revenue was up 11.5% on a year-over-year basis. During the same period last year, the business posted $1.20 earnings per share. Analysts predict that Visa Inc will post 5.4 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were paid a $0.25 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.57%. Visa’s dividend payout ratio (DPR) is presently 21.69%.

Visa Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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